Alaska Air Group Sees Unusually High Options Volume (NYSE:ALK)

Alaska Air Group, Inc. (NYSE:ALK) was the target of some unusual options trading on Thursday. Investors purchased 31,219 call options on the company. This represents an increase of approximately 792% compared to the typical volume of 3,500 call options.

Alaska Air Group Stock Up 2.8 %

Alaska Air Group stock opened at $49.25 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.66. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 0.73 and a beta of 1.60. Alaska Air Group has a 1-year low of $31.44 and a 1-year high of $50.16. The business has a fifty day moving average price of $42.20 and a 200-day moving average price of $40.86.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.03. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a return on equity of 11.85% and a net margin of 2.14%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. Equities research analysts forecast that Alaska Air Group will post 4.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Melius Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Monday, October 28th. TD Cowen decreased their price target on Alaska Air Group from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Barclays assumed coverage on Alaska Air Group in a research note on Monday, October 21st. They issued an “overweight” rating and a $55.00 price target for the company. Evercore ISI decreased their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Finally, Bank of America upped their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Alaska Air Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.17.

Hedge Funds Weigh In On Alaska Air Group

Institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new position in shares of Alaska Air Group in the 2nd quarter valued at about $28,000. Pacifica Partners Inc. increased its stake in shares of Alaska Air Group by 952.4% in the 3rd quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Alaska Air Group in the 3rd quarter valued at about $67,000. Canada Pension Plan Investment Board purchased a new position in shares of Alaska Air Group in the 2nd quarter valued at about $69,000. Finally, Halpern Financial Inc. purchased a new position in shares of Alaska Air Group in the 2nd quarter valued at about $81,000. Hedge funds and other institutional investors own 81.90% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.